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Goldman To Pay $3B To Settle FHFA's Toxic-MBS Suit

Goldman Sachs & Co. said Friday that it has agreed to pay more than $3 billion to settle the Federal Housing Finance Agency's claims that it knowingly sold Fannie Mae and Freddie Mac toxic mortgage-backed securities in the run-up to the housing market collapse in 2007.

  • Cuban Not Running Mavs Into Ground, Appeals Court Rules

    A Texas appeals court declined Friday to reopen a suit attempting to put the NBA's Dallas Mavericks into receivership, saying Texas law doesn't allow that kind of meddling as long as the team was current on its bills — despite stakeholder Hillwood Investment Properties III Ltd.'s allegations that Mark Cuban mismanaged the franchise's finances.

  • Madoff Judge Denies Benefit Plan Investors' SIPA Claims

    A New York bankruptcy judge ruled Friday that more than 300 individual investors who funneled money into Bernard L. Madoff's Ponzi scheme indirectly through Employee Retirement Income Securities Act plans were not "customers" of Madoff’s firm and cannot recover losses from the Securities Investor Protection Corp.

  • Argentina Blasts Bond Judge's Remarks As Imperialist

    Argentina’s government on Friday accused the New York federal judge overseeing its sovereign debt dispute with hedge funds of making imperialist comments against the nation, after it unveiled a plan to evade U.S. jurisdiction over its government bonds.

  • Dynegy Embarks On $6.25B Power Plant Buying Spree

    Dynegy Inc. will nearly double its electricity generating capacity in a pair of deals announced Friday, buying Duke Energy Corp.'s Midwest merchant generation and retail businesses for $2.8 billion and 10 power plants owned by private equity firm Energy Capital Partners for $3.45 billion.

  • Kia, Hyundai's $255M Deal In Fuel Efficiency MDL Gets OK

    Hyundai Motor America and Kia Motors America won approval from a California federal judge on Thursday for a settlement potentially worth over $255 million to resolve claims in multidistrict litigation that the companies overstated the fuel efficiency of over 900,000 vehicles.